As well as the anticipated fine and making do with 21 players instead of the usual 25 in next season's Champions League, City have also accepted a salary freeze on their Champions League squad for the next two years.

In addition, they have agreed to "significantly limit spending in the transfer market for seasons 2014/2015 and 2015/2016", according to a UEFA statement.

City said in a statement they had agreed to limit their net spending on new players to 60million euro (£49million):

"The club's expenditure on new players for the upcoming summer transfer window, on top of income from players it might sell, will be limited to 60m euros. This will have no material impact on the club's planned transfer activity."

Also, the Blues said there had been "a fundamental disagreement" over the interpretation of the FFP regulations on players purchased before 2010, but that it had "decided to enter into a compromise agreement with UEFA".